Baku Energy Forum - SOCAR becomes operator of Ukrainian oil terminal

SOCAR becomes operator of Ukrainian oil terminal


Azerbaijan’s state energy giant SOCAR became the operator of the “Sintez Oil” terminal in Odessa, which previously belonged to the “Private” group and Ukrainian businessmen Igor and Grigory Surkisov.  

The process of transition of "Synthesis Oil" from "Private" to SOCAR began last year, Ukrainian media reported with reference to Director of "Consulting Group A-95" Sergei Kuyun.

The project was implemented in accordance with agreements on the annual supply of 1.3 million tons of Azerbaijani oil to the Kremenchuk refinery (UkrTransNafta), which is also controlled by Private, according to Kuyun.

Kuyun also informs about the preliminary agreement on pumping Azerbaijani oil into Belarus. About three tanker deliveries of 240,000 tons of oil per month will be delivered to the Mozyr Oil Refinery through the UkrTransNafta oil pipeline.

“Almost 3 million tons of oil for Mozyr and 1.3 million tons for Kremenchuk, as well as SOCAR’s trading on the Black Sea is a very good start, especially since there is a prospect of increasing supplies at least in the first two directions. In turn, UkrTransNafta will receive an additional 4 million tons of annual pumping, which will come in handy considering constantly decreasing volumes of transit and transport of domestic oil,” he said.

SOCAR is involved in exploring oil and gas fields, producing, processing, and transporting oil, gas, and gas condensate, marketing petroleum and petrochemical products in domestic and international markets, and supplying natural gas to industry and the public in Azerbaijan. Three production divisions, one oil refineries and one gas processing plant, a deep water platform fabrication yard, two trusts, one institution, and 23 subdivisions are operating as corporate entities under SOCAR. 

Joint ventures (including ventures in Georgia and Turkey), consortia, and operating companies established with SOCAR's participation, are doing business in different parts of the petroleum industry.